Tax Sale

Dictionary Says

Definition of 'Tax Sale'


The sale of property that results when a taxpayer reaches a certain point of delinquency in his or her property tax payments. When this happens, the property owner has a right of redemption period. During this period, he or she has the opportunity to pay off the delinquent taxes in full and reclaim the property.

Investopedia Says

Investopedia explains 'Tax Sale'


There are a number of laws and requirements that must be followed in order for a tax sale to be valid. Adequate notice must be given to the taxpayer and the sale must also usually be open to the public, so that an adequate price is obtained for the property. In many cases, the amount received for the property must be at least equal to the total taxes that are owed.

comments powered by Disqus
Hot Definitions
  1. Legal Monopoly

    A company that is operating as a monopoly under a government mandate. A legal monopoly offers a specific product or service at a regulated price and can either be independently run and government regulated, or government run and regulated.
  2. Closed-End Fund

    A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange.
  3. Payday Loan

    A type of short-term borrowing where an individual borrows a small amount at a very high rate of interest. The borrower typically writes a post-dated personal check in the amount they wish to borrow plus a fee in exchange for cash.
  4. Securitization

    The process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors.
  5. Economic Forecasting

    The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators.
  6. Chicago Mercantile Exchange - CME

    The world's second-largest exchange for futures and options on futures and the largest in the U.S. Trading involves mostly futures on interest rates, currency, equities, stock indices and agricultural products.
Trading Center